Twelve Points Wealth Management LLC Raises Holdings in ONEOK, Inc. $OKE

Twelve Points Wealth Management LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,497 shares of the utilities provider’s stock after purchasing an additional 5,452 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in ONEOK were worth $2,898,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ONEOK by 25.1% during the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after purchasing an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after purchasing an additional 1,047,810 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock worth $682,620,000 after purchasing an additional 344,002 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $73.86 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market cap of $46.51 billion, a P/E ratio of 14.40, a PEG ratio of 1.80 and a beta of 1.04. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week high of $118.07. The company has a 50-day moving average price of $75.53 and a 200 day moving average price of $81.89.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

Several brokerages have issued reports on OKE. Barclays set a $83.00 price objective on ONEOK in a report on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Morgan Stanley decreased their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. Finally, Mizuho decreased their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.60.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.